Home » News and Views » Ian Pollard: Purplebricks Founder Leaves With Immediate Effect

Ian Pollard: Purplebricks Founder Leaves With Immediate Effect

Purplebricks Group plc PURP  is pulling out of the Australian market and the Group’s Founder and Chief Executive Officer is falling on his sword and stepping down from the business with immediate effect. The Board admits that the company’s performance has been disappointing over the last 12 months and offers its sincere apologies to shareholders for that. The UK property market remains challenging but the Company continues to out-perform the market and the Board remains confident about the future of the business, which is presumably why it does not appear to be sharpening any more swords.

Domino’s Pizza Group DOM International sales for the 13 weeks to the 31 March were disappointing and below last years first quarter, The reported fall of 2% means that a break even out turn is no longer expected for the current year, with persistently weak sales in all international markets, although they only account for 10% of the business.. The year has started well across the UK and Republic of Ireland with first quarter like for like sales showing growth of 4.8%.  Online sales continued to be very strong with growth of 8.5% and accounting for 90.5% of delivery sales.  Only four new stores opened in the UK during the quarter, compared to nine in the first quarter of 2018.The company admits that this years openings continue to be impacted by ongoing franchisee discussions, which does not sound as if relationships are as happy as they should be.

KOOVS plc KOOV updates that gross order value increased by 67% in the first three months of the current year, compared to the first quarter of 2018. The company went through challenging times over the last couple of years but is now confident that with external factors such as  the new of Goods and Services Tax, which so disrupted the business, now firmly behind. it can achieve strong growth during the current financial year.

G4S plc GFS confirms that during the offer period, which commenced on 10 April 2019, it received no proposals from Garda World Security Corporation, nor any requests for information. Garda World has also confirmed it does not intend to make an offer for G4S

 

Vivo Energy VVO updates for its AGM that it has delivered a strong start in in the first quarter, which is traditionally the slowest quarter of the year. It now operates in a diverse portfolio of 23 high growth markets across Africa and claims it is uniquely positioned to continue to deliver growth across the business.

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